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Level 3 Communications is cutting 6.5 percent of its global workforce, or roughly 700 jobs, as the Broomfield-based Internet network operator works to trim costs and reach profitability for the first time in its 15 years as a publicly traded company.

The reduction in force will include about 150 positions in Colorado, where Level 3 employs 2,700. The company employs 10,600 worldwide.

"As our business continues to evolve, Level 3 is focused on aligning our resources to maintain a differentiated customer experience, while also driving profitable growth," a Level 3 spokeswoman said in a statement. "Streamlining our business operations to efficiently and effectively respond to the complex demands of the enterprise market and other core aspects of our business is critical to achieving our long-term objectives."

Storey said in an interview this month that he's focused on making Level 3 more efficient. He eliminated a top-ranking executive position previously held by Buddy Miller, who handled mergers and acquisitions under Crowe. Storey has also combined corporate functions, such as communications and investor relations.

"We have looked at areas where we felt we've had too many resources, and we reduced those," Storey said.

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Late last year, the company cut about 400 jobs while integrating its merger with Global Crossing.